[Puffer Fish]

Another sign of decreasing standards of living in France, and the Left's policies not working out too well, turning out not to be sustainable.

More than a million people have protested in France, fighting its president's plan to raise the retirement age by two years.
The wave of nationwide strikes halted trains, disrupted flight schools and businesses, and saw protesters throwing rocks at riot police. The new legislation means citizens will be forced to work until 64, up from 62, to receive the full pension.
The government says the pension reforms are vital to making sure the system doesn't go bust. ​

flashnewsau - TikTok
https://apnews.com/article/france-retir ... 6d2888c26f - January 2023

France is the model in Europe for what socialist policies and high immigration levels will do. The French people and government are overall much more progressive socialist-leaning than the U.S., or even countries like the U.K., Canada or Australia. Taking a look at France can be like taking a look into the future, a "what if", to get some idea of what more socialist policies would be likely to result in.

Like I have explained in other threads, from a purely logical perspective, if there is not enough money to fund a program, the most mathematically logical thing to do when be to cut all payment amounts that program makes by a certain percentage.
But because of simple minds and human psychological stupidity, politically it is much easier to just raise the retirement age.

Just like in Greece during their debt crisis, when a Progressive Left-leaning government finally runs out of money, the people will riot.

It seems the system simply wasn't sustainable, but the Progressive crowds can't be reasoned with. They don't care about real sustainability. That concept is too big for their minds to handle. They just want the system to carry on as it has, whatever it takes.

[Godstud]

As most countries already have retirement ages of 65 or even 67, this isn't really a big deal. Their standards are still better than the vast majority of other countries.

[Unthinking Majority]

As most countries already have retirement ages of 65 or even 67, this isn't really a big deal. Their standards are still better than the vast majority of other countries.

Sounds like a big deal to me. They took money off their paychecks for 40+ years and then are denying them their rightful funds they paid into for 2 extra years and making them work more.

I would much rather have all my government pension money paid back to be so i can invest it myself. But there's a lot of stupid people out there that just spend all their income and don't invest or save or do it badly and they'd be poor or starving without the government looking after them. So these people are essentially government dependents who can't look after themselves. How embarrassing. If there was no government and we still all lived in the wild these people would be deal, or leeching off relatives. Instead they have kids and teach their kids how manage their lives poorly as well.

The exception is disabled people where many rightly can't look after themselves and are indeed lifelong dependents.

[wat0n]

As most countries already have retirement ages of 65 or even 67, this isn't really a big deal. Their standards are still better than the vast majority of other countries.

Indeed, but it's France we're talking about. They are protesting for recognizing the inalienable right, granted by Louis XIV, of the Paris Opera ballerinas to retire at 42.

There's nothing more progressive than the Ancien Régime, after all.

Also, it does illustrate the fraudulent aspect of the current PAYGO social security systems.

[MadMonk]

In 1989, French people between the age of 15 to 64 years of age was at 66% and the average life expectancy was 76 years old. Those figures today are 61,7% and 82 years. France already spends the third most on pensions in the world compared with GDP, after Greece and Italy, and that figure is only going to get worse. Like most developed countries, French people are getting older and living longer. Adjustments are necessary and its good that they are happening in small doses. The generation before me is already up to 67 in Sweden. My generation will see 68-70 before retirement.

[Steve_American]

France is, of course, in the EU and it uses the euro. It, therefore, is not at all like the US or Japan, etc.
It needs to get euros to spend them or borrow them in a real bond market.
It may make sense for it to do this, but if it wasn't in the EU, then it would make less sense.
.

[Steve_American]

A message from the French workers to the Pres. of France on pension reform; Go to Hell.

It seems like the workers are resisting the plan.

.